BlackSky Technology Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
BKSY$23.84-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(15,810) | $(17,315) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization expense | 11,184 | 9,655 |
| Operating lease right of use assets amortization | 191 | 446 |
| Bad debt expense | 100 | — |
| Stock-based compensation expense | 3,363 | 3,012 |
| Amortization of debt issuance costs and non-cash interest expense | 2,121 | 113 |
| Loss (gain) on derivatives | 254 | (1,531) |
| Non-cash interest income | (267) | (156) |
| Income on equity method investment | — | (529) |
| Gain on disposal of property and equipment | — | (22) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 1,388 | (5,947) |
| Contract assets - current and long-term | (3,328) | (591) |
| Prepaid expenses and other current assets | (195) | 462 |
| Other assets | 344 | (8) |
| Accounts payable and accrued liabilities | (2,354) | (2,966) |
| Other current liabilities | 447 | 1,732 |
| Contract liabilities - current and long-term | (1,239) | (2,951) |
| Other liabilities | (9) | (6) |
| Net cash used in operating activities | (3,810) | (16,602) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (3,297) | (2,874) |
| Satellite procurement work in process | (11,347) | (12,926) |
| Purchases of short-term investments | (9,464) | (11,792) |
| Proceeds from maturities of short-term investments | 9,000 | 38,110 |
| Net cash (used in) provided by investing activities | (15,108) | 10,518 |
| Cash flows from financing activities: | ||
| Proceeds from equity issuances, net of equity issuance costs | 1,298 | 29,432 |
| Proceeds from options exercised | 1 | 3 |
| Withholding tax payments on vesting of restricted stock units | (419) | — |
| Payments for deferred financing costs | (18) | — |
| Payments for deferred offering costs | — | (552) |
| Payments of transaction costs related to derivative liabilities | — | (16) |
| Net cash provided by financing activities | 862 | 28,867 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (18,056) | 22,783 |
| Cash, cash equivalents, and restricted cash – beginning of year | 33,434 | 37,016 |
| Cash, cash equivalents, and restricted cash – end of period | $15,378 | $59,799 |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited condensed consolidated statements of cash flows:
| March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash and cash equivalents | $14,965 | $56,964 |
| Restricted cash | 413 | 2,835 |
| Total cash, cash equivalents, and restricted cash | $15,378 | $59,799 |
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (in thousands) | ||
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $— | $— |
| Cash paid for income taxes | — | — |
| Supplemental disclosures of non-cash financing and investing information: | ||
| Property and equipment additions accrued but not yet paid | $3,506 | $4,130 |
| Vendor financed satellite procurement costs | 1,500 | — |
| Credits from LeoStella applied to satellite procurement costs | 966 | — |
| Leasehold improvements funded by tenant improvement allowance | 586 | — |
| Accretion of short-term investments' discounts and premiums | 267 | 156 |
| Capitalized stock-based compensation | 125 | 202 |
| Deferred financing costs accrued but not yet paid | 97 | — |
| Equity issuance costs accrued but not yet paid | 17 | 588 |
| Transaction costs related to derivative liabilities accrued but not yet paid | — | 888 |
| Capitalized interest for property and equipment placed into service | — | 220 |
| Satellite procurement costs included in settlement with LeoStella | — | 36 |
| Deferred offering costs accrued but not yet paid | — | 31 |
| Proceeds from sale of property and equipment accrued but not yet received | — | 24 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.